When you look at lease comps for a particular building, one consistent pattern invariably exists – renewing tenants don’t achieve the same deal that new tenants receive. Tenants often believe that because they are good, rent-paying tenants, their landlord surely wants to keep them on favorable terms. Many tenants don’t realize that landlords view renewing tenants as captive, and already have factored a high renewal probability on favorable terms for the landlord into their ...

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